Port Orange News : Time on Market Down !!

According to the National Association of Realtors, the amount of time a home is on the market has been reduced. InJuly of 2011, the median time a home was listed for sale on the market was for an average of 98 days. In July of 2012, that time dropped to 69 days. This means we are in a more balanced market.

There is always a relationship between time on the market and demand. That is common sense. During a balanced market, a price increase of 1-2% above inflation is normal. During the hey-day of 2004-2005, the time listed for sale was down to 40 days or less.

We are in a good market where sellers are getting a fair market price. We just need the appraisers to keep up with the market.

Keep track of the active listings in your neighborhood by using Subdivision Search on our Website. You don't have to Log-In.

Information for this BLOG were taken from NAR NewsReleases

Port Orange Real Estate : Appraisals in Today's Market

   In spite of Rising Home Prices across Florida, a concern of many Realtors is that low Appraisals are delaying or stopping closings. They have to negotiate deals or buyers walk away. There are a few ways to help the Appraisal process.  Now, while the Dodd Frank Act helped to reform the Appraisal process, it is still an art. They can only work with what is available to them and the actual numbers. There are steps that home sellers and agents can take to ensure a fair and accurate appraisal.

1) - Don't Overprice-  While every homeowner wants as much as possible, it can be tricky when pushing the edge of the Market. Make sure that your Realtor gives you accurate Comparables of your home when pricing it. ( Sold in last 6 Months, Square Footage, etc. ) Use this information and price accordingly. While we can hope for a Cash Buyer that won't ask for an Appraisal, it might not happen.

2) - Be Accomodating - Agents cannot pick the Appraisor, but they can be helpful to them. Making themselves available to Open the House and any Questions they may have. There should be no pressure put on the Appraisor, so it is reccomended that Homeowners not be there. This is particularly helpful if the Appraisor does not have access to MLS or Lockboxes in your area.

3) -Provide Information- It has become frequent that many of the Appraisors are from out of the area. They may not know everything about your area. The Realtor can provide the comparables from the area as well as any community information and Dates and types of repairs done to improve the home.

While there is no Guarantee that your home will Appraise, these tips should help. Pricing in the Market is the biggest factor, but being pro-active by providing information will be helpful.

If you are thinking of Buying or Selling in the Port Orange Area, contact us at Selling Daytona Homes. We will help you find the right home, or sell yours. Use our site to look for homes in the Area and see what some of the Cities have to offer.

Port Orange Real Estate : Housing Market to Improve !?

In a new Semi-Annual survey of leading real estate economists and analysts, the prediction is given for an increase in the overall housing market. However, further reading of this article is not as cheery. These Analysts are making these predictions off of current economic indicators and explain that changes in the world economy could affect these predictions. They also indicate that areas hit hard by the Real Estate Collapse ( Florida, Arizona, etc.) may not have as dramatic an improvement.
The current trend locally has been one of an increasingly stable market with improvement in unemployment. Home prices have been increasing slightly, more so when not including distressed-sales. The local indicators are favorable for our economic future. This trend of market improvement should continue, though we may lag behind the national average.

sellingdaytonahomes.com is available for you to look at the Real Estate Market here. Compare prices of other homes in your neighborhood.  No log-in required.